With an oversupply of wind turbines, why are governments subsidizing new manufacturing plants?
Fighting climate change is a huge investment opportunity but not through emissions trading and investors should instead put their money into renewables which will power the economy in the future, says a leading environmental scientist and cap and trade expert.
A “gold-rush-like” buzz has spread across Germany in the last week over tentative plans to invest the staggering sum of 400 billion euros to harvest solar power in the Sahara for energy users across Europe and northern Africa. Even though European and Mediterranean Union leaders have been exploring and studying for several years the idea of using concentrated solar power (CSP), the Desertec proposition suddenly captivated the public’s attention a week ago when German reinsurer Munich Re announced it had invited blue chip German companies such as Deutsche Bank, Siemens and several major utilities to a July 13 meeting on the project. The 20 companies aim to sign a memorandum of understanding to found the Desertec Industrial Initiative that could be supplying 15 percent of Europe’s electricity in the decades ahead.
This portable electric recharging device could be a lifesaver if you break you leg on a windswept mountaintop in the middle of the night and find that your mobile phone battery is dead when you try to call for help.
It was a disarmingly simple question but, embarrassingly, I didn’t have a clue when first asked that 18 months ago. Even though I’d have to describe myself as a genuine tightwad when it comes to expenditures, I simply had no idea, strangely enough, about how much money my four-person household was spending on electricity — nor how much carbon dioxide was being produced.
Every once in a while you run into someone with so much energy that you find yourself wishing you could plug something into them to tap a bit of that excess power. On a dark, cloudy December afternoon, I spoke to Frank Asbeck, the chairman of SolarWorld and dubbed the “Sonnenkoenig” (Sun King) by a leading newspaper in his native Germany for turning an idea (mass use of photovoltaic) into a multi-billion euro corporation with 2,500 employees — in little over a decade.
You know the wind is changing for renewables — so to speak — when the head of Europe’s biggest power producer becomes an advocate — and then even decides to reduce his own personal reliance on fossil fuels by powering and heating his new house with photovoltaic and geothermal energies.
A plan by President George W. Bush to set a distant 2025 ceiling for rising U.S. greenhouse gases has triggered criticisms by Germany that he is coming up with a “Neanderthal” solution to the problem — too little too late.